GCA Altium advises the shareholders of Bike24 on the sale to Riverside
Riverside has signed a definitive agreement to invest in Bike24, which is owned by Bridgepoint portfolio company Wiggle-CRC. Bike24’s business focuses on bicycle parts, accessories and clothing, with a strong market position catering to bicycle enthusiasts in Germany and across Europe.
Bike24 has the largest product and brand assortment in the market paired with ample availability and fast delivery; its niche focus and level of expertise result in enhanced website content and customer service. This is Riverside’s second partnership with the company, having made its first investment in 2015.
“We are enthusiastic about joining forces with the Bike24 founders and management team once again,” said Riverside Partner Dr. Michael Weber. “During our first partnership, we have been focusing on improving the infrastructure of the business. Now we plan to further strengthen the company’s international presence in Europe. In addition to strong organic growth in the future, we will also actively pursue add-on opportunities.”
Bike24 founder Andrés Martin-Birner is equally excited to work again with Riverside: “During its first ownership, Riverside had been a strong and reliable partner and supported us in growing, professionalizing and automating Bike24’s operations. The founder and management team are excited to continue the success story with Riverside in a second ownership period.”
The deal is expected to close later this year.